IRIS Accounts Production v23.4.0.336 08559445 director 1.7.22 30.6.23 30.6.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure085594452022-06-30085594452023-06-30085594452022-07-012023-06-30085594452021-06-30085594452021-07-012022-06-30085594452022-06-3008559445ns16:EnglandWales2022-07-012023-06-3008559445ns15:PoundSterling2022-07-012023-06-3008559445ns11:Director12022-07-012023-06-3008559445ns11:PrivateLimitedCompanyLtd2022-07-012023-06-3008559445ns11:SmallEntities2022-07-012023-06-3008559445ns11:AuditExempt-NoAccountantsReport2022-07-012023-06-3008559445ns11:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3008559445ns11:SmallCompaniesRegimeForAccounts2022-07-012023-06-3008559445ns11:FullAccounts2022-07-012023-06-300855944512022-07-012023-06-3008559445ns11:RegisteredOffice2022-07-012023-06-3008559445ns6:CurrentFinancialInstruments2023-06-3008559445ns6:CurrentFinancialInstruments2022-06-3008559445ns6:ShareCapital2023-06-3008559445ns6:ShareCapital2022-06-3008559445ns6:RetainedEarningsAccumulatedLosses2023-06-3008559445ns6:RetainedEarningsAccumulatedLosses2022-06-3008559445ns6:NetGoodwill2022-07-012023-06-3008559445ns6:IntangibleAssetsOtherThanGoodwill2022-07-012023-06-3008559445ns6:PlantMachinery2022-07-012023-06-3008559445ns6:NetGoodwill2022-06-3008559445ns6:NetGoodwill2023-06-3008559445ns6:NetGoodwill2022-06-3008559445ns6:PlantMachinery2022-06-3008559445ns6:PlantMachinery2023-06-3008559445ns6:PlantMachinery2022-06-3008559445ns6:WithinOneYearns6:CurrentFinancialInstruments2023-06-3008559445ns6:WithinOneYearns6:CurrentFinancialInstruments2022-06-30
REGISTERED NUMBER: 08559445 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30th June 2023

for

it247nw Limited

it247nw Limited (Registered number: 08559445)






Contents of the Financial Statements
for the year ended 30th June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


it247nw Limited

Company Information
for the year ended 30th June 2023







DIRECTOR: Mr R Kilner





REGISTERED OFFICE: Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE





REGISTERED NUMBER: 08559445 (England and Wales)





ACCOUNTANTS: Robin Oatridge & Co Limited
Chartered Certified Accountants
Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE

it247nw Limited (Registered number: 08559445)

Balance Sheet
30th June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,000
Tangible assets 5 15,687 19,609
15,687 20,609

CURRENT ASSETS
Stocks 2,300 2,025
Debtors 6 38,828 36,556
Cash at bank and in hand 98,403 106,133
139,531 144,714
CREDITORS
Amounts falling due within one year 7 110,282 92,935
NET CURRENT ASSETS 29,249 51,779
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,936

72,388

PROVISIONS FOR LIABILITIES 2,981 3,726
NET ASSETS 41,955 68,662

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 41,855 68,562
SHAREHOLDERS' FUNDS 41,955 68,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

it247nw Limited (Registered number: 08559445)

Balance Sheet - continued
30th June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20th March 2024 and were signed by:





Mr R Kilner - Director


it247nw Limited (Registered number: 08559445)

Notes to the Financial Statements
for the year ended 30th June 2023

1. STATUTORY INFORMATION

it247nw Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

it247nw Limited (Registered number: 08559445)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2022
and 30th June 2023 10,000
AMORTISATION
At 1st July 2022 9,000
Charge for year 1,000
At 30th June 2023 10,000
NET BOOK VALUE
At 30th June 2023 -
At 30th June 2022 1,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st July 2022
and 30th June 2023 39,619
DEPRECIATION
At 1st July 2022 20,010
Charge for year 3,922
At 30th June 2023 23,932
NET BOOK VALUE
At 30th June 2023 15,687
At 30th June 2022 19,609

it247nw Limited (Registered number: 08559445)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 38,703 36,431
Other debtors 125 125
38,828 36,556

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 59,829 50,235
Taxation and social security 44,473 37,779
Other creditors 5,980 4,921
110,282 92,935

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is Mr R Kilner.